The Presidency on Sunday dismissed reports that $25bn worth of oil contracts were awarded by the Nigerian National Petroleum Corporation (NNPC).

It also denied insinuations in certain quarters that $25bn is missing from NNPC account.

This was contained in a statement issued by the Senior Special Assistant on Media and Publicity to the Vice President, Yemi Osinbajo, Laolu Akande.

Akande said, “No contracts were procured by the NNPC based on the leaked memo of the Petroleum Resources Minister of State, Dr Ibe Kachikwu, even though such impressions have been maliciously created in the past few weeks.”